News, Congress "Buy America" could backfire, groups warn. (economy, Walmart)

[JD59]

WASHINGTON (Reuters) - Top U.S. business groups geared up on Thursday to stop a congressional effort to create U.S. jobs by including new "Buy America" provisions in the $825 billion package to jump-start the struggling U.S. economy.

They warned that the measures could backfire on the United States by inviting copycat moves overseas and possible retaliation against U.S. exports.

Congress Buy America could backfire, groups warn | U.S. | Reuters

[sickofnyc]

Originally Posted by John1960

WASHINGTON (Reuters) - Top U.S. business groups geared up on Thursday to stop a congressional effort to create U.S. jobs by including new "Buy America" provisions in the $825 billion package to jump-start the struggling U.S. economy.

They warned that the measures could backfire on the United States by inviting copycat moves overseas and possible retaliation against U.S. exports.

Congress Buy America could backfire, groups warn | U.S. | Reuters

Personally, I'm sick and tired of the fear factor...this could backfire, this could this, this could that. We have to backtrack to some degree or we will be up the creek. Fair trade agreements are just that...fair. We have had free trade and it is killing us. Green technology for our infrastructure will remain here as opposed to outsourced crap. WalMart has made enough money off of this nonsense. It is time to put this country back in the market. Haven't we been poisoned and bankrupted enough? Keep your garbage China. We don't need you for energy and we don't need you for technology, innovation or manpower. The only ones that we'll be up in arms about this are the corporate cronies.

"Buy American" is the way to go.

[Miborn]

FDR and the End of Economic Liberty
by Jacob G. Hornberger, August 1991

FDR and the End of Economic Liberty


Mainstream historians, journalists, and commentators often speak of the vast legacy left behind by Franklin Delano Roosevelt. In reality, the only legacy left behind by this tyrant is the residuum of his departure from the gold standard, which gave us a managed currency system producing massive inflation and destructive business cycles; gigantic welfare state programs for the aged and for the unwilling; sanctioned malignancy of unionism; collectivization of industry; unconstitutional shift of unmitigated authority to a hand-assembled judicial branch; and a public takeover of formerly private business endeavors. And he used economic depression – and later, war – as the crises that required his heavy hand.

FDR and Crisis

How FDR's New Deal Harmed Millions of Poor People
How FDR's New Deal Harmed Millions of Poor People
Socialist Lust for Power - FDR, the American Great Depression, & WWII (http://www.angelfire.com/pa/sergeman/cliches/depression.html - broken link)


How FDR Made the U.S. Depression Worse
FDR Made Depression Worse